United Electronics Co. (eXtra) reported an annual net profit after Zakat and tax of SAR 280.1 million for 2020, up 36% year-on-year (YoY), due to higher sales across stores and e-commerce sector.
The company also cited increase in gross profit and rise in revenues from consumer finance services.
| Item | 2019 | 2020 | Change |
|---|---|---|---|
| Revenues | 5,134.60 | 5,962.32 | 16.1 % |
| Gross Income | 901.18 | 1,039.30 | 15.3 % |
| Operating Income | 248.77 | 354.14 | 42.4 % |
| Net Income | 205.61 | 280.14 | 36.2 % |
| Average Shares | 80.00 | 80.00 | - |
| EPS (Riyals) | 2.57 | 3.50 | 36.2 % |
| Item | Q4 2019 | Q4 2020 | Change |
|---|---|---|---|
| Revenues | 1,881.04 | 1,954.69 | 3.9 % |
| Gross Income | 300.93 | 316.83 | 5.3 % |
| Operating Income | 89.88 | 112.10 | 24.7 % |
| Net Income | 72.09 | 101.64 | 41.0 % |
| Average Shares | 80.00 | 80.00 | - |
| EPS (Riyals) | 0.90 | 1.27 | 41.0 % |
| Item | Q3 2020 | Q4 2020 | Change |
|---|---|---|---|
| Revenues | 1,224.52 | 1,954.69 | 59.6 % |
| Gross Income | 225.59 | 316.83 | 40.4 % |
| Operating Income | 70.32 | 112.10 | 59.4 % |
| Net Income | 53.44 | 101.64 | 90.2 % |
| Average Shares | 80.00 | 80.00 | - |
| EPS (Riyals) | 0.67 | 1.27 | 90.2 % |
The Q4 2020 net profit increased by 41% YoY to SAR 101.8 million on higher sales and increase in revenues from services and consumer finance.
On a sequential basis, Q4 2020 net profit rose by 90.4% on seasonality factors.
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